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Google parent Alphabet sales barely miss, EPS strong

Google’s parent company Alphabet reported its Q3 2018 financial results on Thursday. The tech giant reported earnings of $13.06 per share on $33.7 billion of revenue, versus analysts’ expectations of $10.42 per share on $34 billion of revenue.

The stock was down 3.6% after hours.

That’s a jump of 21% from last year’s numbers. Traffic acquisition costs came in at $6.5 billion versus last quarter’s $5.5 billion.

Operating losses for Google’s Other Bets, such as Google Fiber and its health-based Verily, increased from $650 million in Q3 2017 to $727 million.

Other revenue for the search giant came in at $4.6 billion.

Google’s earnings come the same day The New York Times published a piece detailing how the company paid Android creator Andy Rubin $90 billion upon his exit from Google as a result of a colleague’s accusations that Rubin pressured her into a sex act.